Pivot-CalculatorM

Download script
Author:
Pivot-CalculatorM

This script is a specialized financial tool designed for the MetaTrader platform to automatically calculate and display key price levels, known as "Pivots," on your trading charts. These levels are widely used by traders to identify potential areas of support (where prices may stop falling) and resistance (where prices may stop rising).

Core Functionality

The primary purpose of this tool is to analyze historical price data—specifically the high, low, and closing prices from previous trading sessions—to project significant price targets for the current day. By automating these calculations, it removes the need for manual math and allows you to visualize structural boundaries instantly on your screen.

How the Logic Works

The script follows a systematic process to determine where the market might face pressure:

  • Data Retrieval: The tool scans recent historical data to identify the price action of the previous trading day. It includes intelligent logic to handle weekends; if a Monday session occurs, it knows to look back at the previous Friday's data to ensure the calculations remain consistent with the weekly market cycle.
  • Pivot Calculation: Using standard financial formulas, the script calculates the "Main Pivot" point. This serves as the central equilibrium for the current trading day.
  • Support and Resistance Projection: From that main pivot point, the script derives six additional levels:
    • Resistance Levels (R1, R2, R3): These represent price ceilings. The higher the number, the further the price has moved away from the equilibrium, indicating stronger potential barriers.
    • Support Levels (S1, S2, S3): These represent price floors. Similar to resistance, these indicate points where buyers are historically likely to step in and prevent further price drops.
  • Visual Mapping: Once the math is complete, the script automatically draws horizontal lines across your chart for every level (Pivot, R1–R3, and S1–S3). It also places clear text labels next to each line so you can easily identify which level is which at a glance.

User Experience

The tool is designed to be "plug-and-play." Once active, it manages the drawing of these lines automatically. It handles the cleanup of old objects and ensures that the current levels stay updated as the price moves. This allows traders to focus on making decisions based on visual market structure rather than performing repetitive calculations.

Price Data Components
Series array that contains open time of each bar
14 Views
0 Downloads
0 Favorites
Pivot-CalculatorM 
//+------------------------------------------------------------------+
//|           Included is the PRICE based Pivot calculator           |
//|                (Daily Pivot,R1,R2,R3 & S1,S2,S3)                 |
//|                                                                  |
//|                                 Email: Xard777@connectfree.co.uk |
//+------------------------------------------------------------------+
//mod
#property copyright ""
#property link      ""
#property indicator_chart_window


extern int P = 5; //How many days back /0 = curr day/ 1 = yesterday/ 2= 2days ago

//---- input parameters ----
extern color   PLineColor  =  DarkSlateGray;
extern int     PLineWidth  =  3;
extern color  PLabelColor  =  DimGray;
extern int       fontsize  =  10;

double LastHigh, LastLow, x;

//+------------------------------------------------------------------+
//| Custor indicator deinitialization function                       |
//+------------------------------------------------------------------+
int deinit()
  {
//  ObjectsDeleteAll();   
ObjectDelete("p_Line");ObjectDelete("P label");

ObjectDelete("r1_Line");ObjectDelete("r2_Line");ObjectDelete("r3_Line");
ObjectDelete("s1_Line");ObjectDelete("s2_Line");ObjectDelete("s3_Line");

ObjectDelete("R1 label");ObjectDelete("R2 label");ObjectDelete("R3 label");
ObjectDelete("S1 label");ObjectDelete("S2 label");ObjectDelete("S3 label");




//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
  {



//---- Name for DataWindow and indicator subwindow label
   IndicatorShortName("XA"); 
   SetIndexDrawBegin(0,1);
   IndicatorDigits(MarketInfo(Symbol(),MODE_DIGITS));

   return(0);
  }

//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+
int start()
{

  //{
   int counted_bars = IndicatorCounted();
   int limit, i;
   
//---- Indicator Calculation ----
   if(counted_bars == 0)
     {
       x = Period();
       if(x > 240) 
           return(-1);       
     }
   if(counted_bars < 0) 
       return(-1);
   //---- last counted bar will be recounted
   //   if(counted_bars>0) counted_bars--;
      limit = (Bars - counted_bars) - 1;
//----
   for(i = limit; i >= 0; i--)
     { 
       if(High[i+1] > LastHigh) 
           LastHigh = High[i+1];
       //----
       if(Low[i+1] < LastLow) 
           LastLow=Low[i+1];
       if(TimeDay(Time[i]) != TimeDay(Time[i+1]))
         { 
         
           LastLow = Open[i]; 
           LastHigh = Open[i];
           
         }
      
//---- Pivot Setup ----
double rates[1][6],yesterday_volume,yesterday_close,yesterday_high,yesterday_low,yesterday_open;
ArrayCopyRates(rates, Symbol(), PERIOD_D1);

if(DayOfWeek() == 1)
{
   if(TimeDayOfWeek(iTime(Symbol(),PERIOD_D1,1)) == 5)
   {
       yesterday_volume = rates[1][5];
       yesterday_close = rates[1][4];
       yesterday_high = rates[1][3];
       yesterday_low = rates[1][2];
       yesterday_open = rates[1][1];
       
   }
   else
   {
      for(int d = 5;d>=0;d--)
      {
         if(TimeDayOfWeek(iTime(Symbol(),PERIOD_D1,d)) == 5)
         {
             yesterday_volume = rates[d][5];
             yesterday_close = rates[d][4];
             yesterday_high = rates[d][3];
             yesterday_low = rates[d][2];
             yesterday_open = rates[d][1];
         }
         
      }  
      
   }
}
else
{
    yesterday_close = rates[1][4];
    yesterday_high = rates[1][3];
    yesterday_low = rates[1][2];
    yesterday_open = rates[1][1];
}

//---- Calculate Pivots ----
double R = yesterday_high - yesterday_low;//range
double p = (yesterday_high + yesterday_low + yesterday_close)/3;// Standard Pivot
double r3 = (2*p)+(yesterday_high-(2*yesterday_low));// Resistance 3
double r2 = p+(yesterday_high - yesterday_low);// Resistance point 2
double r1 = (2*p)-yesterday_low;// Resistance point 1
double s1 = (2*p)-yesterday_high;// Support point 1
double s2 = p-(yesterday_high - yesterday_low);// Support point 2
double s3 = (2*p)-((2* yesterday_high)-yesterday_low);// Support point 3

//Pivot, Support & Resistance Lines
ObjectDelete("p_Line");
ObjectCreate("p_Line", OBJ_HLINE,0, CurTime(),p);
ObjectSet("p_Line",OBJPROP_COLOR,PLineColor);
ObjectSet("p_Line",OBJPROP_STYLE,STYLE_SOLID);
ObjectSet("p_Line",OBJPROP_WIDTH,PLineWidth);

ObjectDelete("r1_Line");
ObjectCreate("r1_Line", OBJ_HLINE,0, CurTime(),r1);
ObjectSet("r1_Line",OBJPROP_COLOR,PLineColor);
ObjectSet("r1_Line",OBJPROP_STYLE,STYLE_SOLID);
ObjectSet("r1_Line",OBJPROP_WIDTH,PLineWidth);

ObjectDelete("r2_Line");
ObjectCreate("r2_Line", OBJ_HLINE,0, CurTime(),r2);
ObjectSet("r2_Line",OBJPROP_COLOR,PLineColor);
ObjectSet("r2_Line",OBJPROP_STYLE,STYLE_SOLID);
ObjectSet("r2_Line",OBJPROP_WIDTH,PLineWidth);

ObjectDelete("r3_Line");
ObjectCreate("r3_Line", OBJ_HLINE,0, CurTime(),r3);
ObjectSet("r3_Line",OBJPROP_COLOR,PLineColor);
ObjectSet("r3_Line",OBJPROP_STYLE,STYLE_SOLID);
ObjectSet("r3_Line",OBJPROP_WIDTH,PLineWidth);

ObjectDelete("s1_Line");
ObjectCreate("s1_Line", OBJ_HLINE,0, CurTime(),s1);
ObjectSet("s1_Line",OBJPROP_COLOR,PLineColor);
ObjectSet("s1_Line",OBJPROP_STYLE,STYLE_SOLID);
ObjectSet("s1_Line",OBJPROP_WIDTH,PLineWidth);

ObjectDelete("s2_Line");
ObjectCreate("s2_Line", OBJ_HLINE,0, CurTime(),s2);
ObjectSet("s2_Line",OBJPROP_COLOR,PLineColor);
ObjectSet("s2_Line",OBJPROP_STYLE,STYLE_SOLID);
ObjectSet("s2_Line",OBJPROP_WIDTH,PLineWidth);

ObjectDelete("s3_Line");
ObjectCreate("s3_Line", OBJ_HLINE,0, CurTime(),s3);
ObjectSet("s3_Line",OBJPROP_COLOR,PLineColor);
ObjectSet("s3_Line",OBJPROP_STYLE,STYLE_SOLID);
ObjectSet("s3_Line",OBJPROP_WIDTH,PLineWidth);

ObjectsRedraw();

// ---- Typing Labels ----

//R3 Label
if(ObjectFind("R3 label") != 0)
{
ObjectCreate("R3 label", OBJ_TEXT, 0, Time[3], r3);
ObjectSetText("R3 label", " R3 ", 9, "Verdana", PLabelColor);
}
else
{
ObjectMove("R3 label", 0, Time[3], r3);
}

//S3 Label   
if(ObjectFind("S3 label") != 0)
{
ObjectCreate("S3 label", OBJ_TEXT, 0, Time[3], s3);
ObjectSetText("S3 label", " S3 ", 9, "Verdana", PLabelColor);
}
else
{
ObjectMove("S3 label", 0, Time[3], s3);
}

//R2 Label 
if(ObjectFind("R2 label") != 0)
{
ObjectCreate("R2 label", OBJ_TEXT, 0, Time[3], r2);
ObjectSetText("R2 label", " R2 ", 9, "Verdana", PLabelColor);
}
else
{
ObjectMove("R2 label", 0, Time[3], r2);
}

//S2 Label 
if(ObjectFind("S2 label") != 0)
{
ObjectCreate("S2 label", OBJ_TEXT, 0, Time[3], s2);
ObjectSetText("S2 label", " S2 ", 9, "Verdana", PLabelColor);
}
else
{
ObjectMove("S2 label", 0, Time[3], s2);
}

//R1 Label
if(ObjectFind("R1 label") != 0)
{
ObjectCreate("R1 label", OBJ_TEXT, 0, Time[3], r1);
ObjectSetText("R1 label", " R1 ", 9, "Verdana", PLabelColor);
}
else
{
ObjectMove("R1 label", 0, Time[3], r1);
}

//S1 Label
if(ObjectFind("S1 label") != 0)
{
ObjectCreate("S1 label", OBJ_TEXT, 0, Time[3], s1);
ObjectSetText("S1 label", " S1 ", 9, "Verdana", PLabelColor);
}
else
{
ObjectMove("S1 label", 0, Time[3], s1);
}

//Pivot Label
if(ObjectFind("P label") != 0)
{
ObjectCreate("P label", OBJ_TEXT, 0, Time[3], p);
ObjectSetText("P label", " Pivot ", 9, "Verdana", PLabelColor);
}
else
{
ObjectMove("P label", 0, Time[3], p);
}  
 
Comment("Pivot Calculator ");

}

   return(0);
   
  }
//Job Done
//+------------------------------------------------------------------+

Similar scripts

Pivot-Calculator_001

This indicator automatically calculates and maps high-precision standard, intermediate, and multi-level support/resistance zones derived from historical daily price action.

Pivot-Calculator

This indicator calculates and plots a comprehensive grid of Standard, Midpoint, and Mid-Mid pivot levels based on historical daily price action to identify high-probability support and resistance zones.

Pivot-point

This indicator automatically calculates and plots daily floor pivots, resistance levels (R1-R3), and support levels (S1-S3) based on historical price action ranges.

Pivot-point-vTEXT

This indicator mathematically derives daily pivot points and intermediary M-levels to visualize liquidity zones and structural price shifts based on historical high, low, and closing data.

UROVNI-MT4_v1

Pivots Daily_v1

This indicator projects high-precision structural boundaries by synthesizing standard daily pivot levels, Camarilla breakdown values, and intermediate midpoint clusters based on historical price extremes.

UROVNI-MT4

Pivot Lines Timezone_v1

This indicator synchronizes historical price action to project Standard Pivots, Camarilla breakout levels, and intermediate midpoint boundaries across specific time zones.

Pivots Custom

This indicator projects comprehensive structural price levels by synthesizing standard pivot points, Camarilla range boundaries, and intermediate midpoint zones based on historical high, low, and closing data.

Pivot_W

This indicator dynamically maps daily price action to visualize traditional pivot levels, Camarilla breakouts, and internal midpoint zones for high-precision supply and demand identification.

Pivots Daily_v2

This indicator dynamically projects daily pivot points, Camarilla levels, and intermediate midpoints by synthesizing previous session volatility with current price action.

Comments